Global Luxury Sunglasses Market 2017-2021

Overview of the global luxury sunglasses market

Research analysis on the global luxury sunglasses market identifies that the premiumization in luxury sunglasses industry will be one of the major factors that will have a positive impact on the growth of the market. The players in the market are introducing products with improved quality to improve the branding of products, which will attract brand conscious customers. Luxury sunglasses are considered to be durable and they also block UVA and UVB rays. promoting healthy vision. The increasing preference of the consumers to buy high-end brands will drive the demand for luxury sunglasses. Technavio’s market research analysts predict that this market will grow at a CAGR of close to 7% by 2021.

In terms of geography, the Americas account for the major shares of the luxury glasses market due to the increasing preference of the consumers towards luxury products. The increasing affordability and the presence of large players also drive the market’s growth in this region. Additionally, the growing urbanization that has increased the number of dual-earning households and the increasing working women population, also lead to the growth of the luxury sunglasses market.

Competitive landscape and key vendors

The market is characterized by the presence of a few vendors and is concentrated. The market is competitive and the vendors in the market are competing on the basis of price, quality, brand, and variety. To increase their market shares and improve their market positions, the players in this marketspace are concentrating on introducing innovative products. 

Some of the leading vendors in the market are -

• Essilor
• LOUIS VUITTON
• Luxottica Group
• Safilo Group

The other prominent vendors in the market are Alexander McQueen, CHARMANT Group, De Rigo Vision, Guccio Gucci, REVO, Marchon Eyewear, and Marcolin.

Segmentation by product and analysis of the luxury sunglasses market

• Polarized
• Non-polarized

During 2016, the non-polarized segment accounted for the major shares of this market. This luxury sunglasses segment comprises of normal lenses that protect the eyes from sunlight by blocking reflected light.  These sunglasses are high-end fashion accessories and are priced lesser than the ultra-premium polarized sunglasses. The availability of these glasses in various designs from a wide variety of brands will drive the growth of this market segment.

Segmentation by gender and analysis of the luxury sunglasses market

• Men
• Women

Owing to their increased spending capacity, women were the major contributors to the market during 2016. Sunglasses are considered as luxury items and fashion statement and are available in different varieties for various occasions. The increase in working women population is one of the major factors that will contribute to the growth of the luxury sunglasses market in this segment.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global luxury sunglasses market?
• What are the key market trends impacting the growth of the global luxury sunglasses market?
• What are the challenges to market growth?
• Who are the key vendors in the global luxury sunglasses market?
• What are the market opportunities and threats faced by the vendors in the global luxury sunglasses market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global luxury sunglasses market?

Technavio also offers customization on reports based on specific client requirement.